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CN adds $100M investment to improve rail safety
April 27, 2015 by Manufacturing AUTOMATION
Apr. 26, 2015 – Canadian National Railway says it plans to spend an extra $100 million this year to improve rail safety while it continues to analyze two significant derailments in Northern Ontario that hit its network in the past quarter.
CN now plans to spend $2.7 billion as it tackles additional rail infrastructure safety projects. Last week it announced plans to invest $500 million in its feeder network.
“It is a long-term program to make sure that the growth that we see coming off of our Western Canada feeder network that we have the infrastructure to do it safely,” said CEO Claude Mongeau.
CN said it hopes strong U.S. consumer demand and a weaker loonie will propel Canadian exports and increase overall carloads by three per cent to offset weaker energy markets.
— With files from Ross Marowits, The Canadian Press
